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December 11, 2012

Deal Alert: Sequoia, IDG Ventures invest Rs.50-Cr in banking analytics software firm iCreate

Sequoia Capital is leading a Rs.50 crore investment in Bangalore-based banking data analytics software and services startup iCreate Software. iCreate plans to use the funds to expand its product portfolio and enter new geographies. The firm had earlier raised funding of Rs.15 crore from IDG Ventures, which also participated in this round. 

Founded by Anup Pai in 2006, iCreate has developed business intelligence products for various banks including Bank of America, Gulf Investment Corporation, Indonesia's Bank Mandiri and HDFC Bank.

From the Venture Intelligence PE Deal database: iCreate had raised $3.3 M from IDG Ventures in Dec-09. It raised another round of funding from IDG in Apr-12.

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